Greggs (LON:GRG) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Key Points

• Deutsche Bank raised Greggs’ target price to GBX 1,420 from GBX 1,330 but maintained its “sell” rating, implying 27.81% downside from the prior close.
• Analyst sentiment is mixed: Greggs has three buy, three hold and one sell rating, with an overall “hold” consensus and an average target price of GBX 1,962.86.
• Greggs opened at GBX 1,967, near its 52-week high, and reported quarterly EPS of GBX 55.10, with a 5.93% net margin and 20.97% return on equity.

Greggs (LON:GRG - Get Free Report) had its target price boosted by Deutsche Bank Aktiengesellschaft from GBX 1,330 to GBX 1,420 in a research report issued to clients and investors on Wednesday, Digital Look reports. The firm presently has a "sell" rating on the stock. Deutsche Bank Aktiengesellschaft's target price would indicate a potential downside of 27.81% from the company's previous close.

Other research analysts have also issued reports about the stock. Royal Bank Of Canada boosted their price objective on shares of Greggs from GBX 1,830 to GBX 1,960 and gave the stock a "sector perform" rating in a research note on Friday, July 31st. Shore Capital Group reiterated a "hold" rating and issued a GBX 1,910 target price on shares of Greggs in a research note on Wednesday. Berenberg Bank lifted their price target on Greggs from GBX 2,200 to GBX 2,300 and gave the stock a "buy" rating in a report on Thursday. JPMorgan Chase & Co. boosted their price target on Greggs from GBX 2,050 to GBX 2,210 and gave the stock an "outperform" rating in a research report on Thursday, July 30th. Finally, Jefferies Financial Group upped their price objective on Greggs from GBX 1,610 to GBX 1,740 and gave the company a "hold" rating in a research note on Friday, August 28th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of GBX 1,962.86.

Greggs Price Performance

LON:GRG opened at GBX 1,967 on Wednesday. The stock has a market capitalization of £2.01 billion, a PE ratio of 15.26, a P/E/G ratio of 3.39 and a beta of 1.16. Greggs has a 1-year low of GBX 1,407.20 and a 1-year high of GBX 2,058. The firm has a fifty day simple moving average of GBX 1,831.64 and a 200 day simple moving average of GBX 1,688.22. The company has a current ratio of 0.52, a quick ratio of 0.88 and a debt-to-equity ratio of 74.16.

Greggs (LON:GRG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The company reported GBX 55.10 earnings per share (EPS) for the quarter. Greggs had a net margin of 5.93% and a return on equity of 20.97%. On average, research analysts expect that Greggs will post 142.3763386 EPS for the current fiscal year.

Insider Transactions at Greggs

In other Greggs news, insider Richard Hutton sold 3,069 shares of the firm's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of GBX 1,926, for a total transaction of £59,108.94. 0.63% of the stock is owned by company insiders.

Greggs Company Profile

Greggs is a leading UK food-on-the-go retailer with more than 2,700 shops nationwide and approximately 33,000 employees across the business. As a food-on-the-go retailer, Greggs specialises in daily fresh shop-made sandwiches, and savouries baked fresh in the shop ovens throughout the day. These are further complemented by popular products and ranges including freshly ground coffee, breakfast, confectionery and evening menu items. Greggs also offers a healthier options range which includes a selection of gluten-free, vegan-friendly and lower calorie products.

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